How Many Years Can You Finance A Used Car?

How Many Years Can You Finance A Used Car?

How Many Years Can You Finance a Used Vehicle?

The longest typical length on a used car loan is seven years or 84 months.

Edmunds.com indicates that 62 percent of auto loans were for longer than 60 month as of 2014.

However, there are some drawbacks and financial risks of taking on such long auto loans.

Can you finance a used car for 72 months?

A 72 month used car loan should not be your first choice. Even though your monthly payments are lower with the 72 month used car loan, the total you pay will be much higher because the interest rate is higher and you are paying it for a longer period of time.

Photo in the article by “Geograph” https://www.geograph.org.uk/photo/2049054